Jump to ContentJump to Main Navigation
States, Debt, and Power'Saints' and 'Sinners' in European History and Integration$
Users without a subscription are not able to see the full content.

Kenneth Dyson

Print publication date: 2014

Print ISBN-13: 9780198714071

Published to Oxford Scholarship Online: August 2014

DOI: 10.1093/acprof:oso/9780198714071.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2018. All Rights Reserved. Under the terms of the licence agreement, an individual user may print out a PDF of a single chapter of a monograph in OSO for personal use (for details see www.oxfordscholarship.com/page/privacy-policy).date: 20 January 2019

Financial Repression, Debasement, and the Historic Arc of Default

Financial Repression, Debasement, and the Historic Arc of Default

(p.127) 5 Financial Repression, Debasement, and the Historic Arc of Default
States, Debt, and Power

Kenneth Dyson

Oxford University Press

This chapter examines historical variations in the scale and the distribution of various key policy instruments: currency debasement, default, inflation, devaluation, and financial repression. It looks at aggressive and defensive debasements and the importance attached to control of precious metals, including alchemy. The chapter analyses the factors explaining variations in use of default, including war debt and reparations, regime change, and revolution. It also examines historical myth and reality in the cases of Edward 1 and Edward III of England and Philip II of Spain. Particular attention is paid to the historic European arc of default and the role of bondholder organizations and the League of Nations. Key case studies include Bulgaria, Egypt, Greece, Ottoman Turkey, Portugal, and Spain. Finally, the chapter addresses the issue of core–periphery and the role of empire.

Keywords:   currency debasement, default, inflation, devaluation, financial repression, empire, arc of default, bondholder organizations, League of Nations

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .